Eskimos president and CEO Len Rhodes had mainly good news for shareholders in attendance at Tuesday's annual general meeting at Commonwealth Stadium. Besides not losing money, the club had plenty to give to charity last year. (Codie McLachlan/QMI Agency)

EDMONTON - The bottom line at the Edmonton Eskimos annual general meeting on Tuesday: they didn’t lose money.

Which is good news for president and CEO Len Rhodes, who reported a net profit of $207,060 in his first full season with the organization.

“It’s less than last year, but there were some changes in terms of our structure — one-time adjustments,” Rhodes said. “But (I’m) happy, yes, because we are not-for-profit.

“If we can generate more dollars than the bottom line, it’s about reinvesting in football operations and putting it right back in the community, as well.”

With total operating expenses of $18,833,674 —its highest in the last three years and 11% more than 2011 — the Eskimos managed to stay in the black.

“We had record revenues last year, but our expenses went up,” Rhodes said.

The club announced a net operating income of just $16,196 last year, which was a considerable drop from $637,806 in 2011.